Venture capital firms invested $4.7 billion in 681 deals in the first quarter, down from $5.2 billion in 832 deals in the prior quarter and the $17.8 billion invested in 635 deals this time last year, according to the MoneyTree Report from PricewaterhouseCoopers and the National Venture Capital Association.
Investment dollars in clean technology rose 87% in the first quarter to $773 million; with the number of deals increasing to 69 from 48 in the prior quarter.
Venture capital firms increased their dollar investment in expansion-stage companies, up 9% to $1.8 billion in 224 deals; the previous quarter there were 243 deals. Seed and early-stage investment dollars dropped 30% to $1.4 billion, while the number of those transactions declined 24% to 299. Software, biotechnology and financial service companies received the most first-time financing in the most recent quarter.
The MoneyTree report is based on data provided by Thomson Reuters.